KALO & ASSOCIATES Advise Societe Generale S.A. on the Sale of its Majority Stake in SGAL

SEE Legal's Albanian member acted as local counsel to Societe Generale S.A. on the sale of its majority stake in Société Générale Albania (SGAL) to OTP Bank.  With a market share of nearly 6%, SGAL is the 5th largest bank on the Albanian banking market, active in both retail and corporate segment. The closing of the transaction is expected to take place in the coming months, subject to receipt of clearances from the relevant banking and antitrust authorities, and relevant third party consents. KALO & ASSOCIATES' team was led by partner Aigest Milo.

Construction of a Photovoltaic Plant in Vlora

A project for the construction of the photovoltaic plant for the generation of electricity with installed capacity of 50 MW, as part of the Support Measures in the Akerni Zone (Vlora) and the construction of additional capacity of 20 MW up to 50 MW, which will not be part of the Support Measures, is in the pipeline. The duration of the project is estimated to be 30 years, with the right of renewal. The area where the project will be developed is the Akerni Area, Vlora Municipality, which is one of the most favourable areas with high solar radiation and a solar energy potential of more than 1600…

KALO & ASSOCIATES Advised Transcom

K&A’s team, led by Partner Aigest Milo, advised Transcom Holding AB (”Transcom”), the global customer experience specialist, in its expansion in Albania. Transcom has signed an asset transfer agreement to take over a site in Durres, Albania, currently operated by Transcom’s partner. The site in Durres has been delivering services to Transcom clients since 2013. For Transcom, taking over the site with over 500 highly qualified multilingual employees, will strengthen Transcom’s European nearshore and multilingual services. “No matter where in the world our clients’ customers are,…

Albania Adopts New Support Schemes for Solar and Wind Power Plants

Flavia Xhafo, Senior Associate at KALO & ASSOCIATES discussed Albania’s potential in developing other sources of renewables, such as solar or wind power plants, in addition to hydropower plants, generating more than 95% of the electricity in Albania. In February 2017, the Parliament approved the new law on Incentives for Using of Energy from Renewable Sources (the “2017 RES Law”), which is partially aligned with the EU RES Directive No. 2009/28/EC, as part of the Acquis – an obligation Albania has as a potential candidate for accession to EU. The 2017 RES Law establishes the broad…

KALO & ASSOCIATES Advised a Group of Car Manufacturers on Development of Inter-city Charging Infrastructure

KALO & ASSOCIATES acted as Albanian legal counsel to handle the Albanian aspects of the creation of a full-function joint venture company between Bayerische Motoren Werke Aktiengesellschaft (“BMW”), Daimler AG, Ford Motor Company and Dr. Ing. h.c. F. Porsche Aktiengesellschaft (on behalf of Volkswagen Group) to develop, establish and operate a high-power, multi-OEM-owned-and-controlled, inter-city charging infrastructure for battery electric vehicles in Europe that will develop into a profit-making, self-sustaining business.

KALO & ASSOCIATES Advised Intesa Sanpaolo S.p.A., Italy

KALO & ASSOCIATES acted as local legal counsel to Intesa Sanpaolo S.p.A., Italy, in the process of acquisition of the 100% share capital of Veneto Banka SHA. The main focus was on the retransfer of the NPL portfolio as part of the overall acquisition process as well as notification of the transfer of shares to the Albanian authorities.

Albania and Italy to Strengthen Business Ties

Albania hosted the largest business mission of 200 big business organizations coming from Italy. In addition, some other 200 businesses already active in Albania joined. Important institutions like SACE, FINEST, SIMEST, ABI, etc. were present, too. The Albanian Prime Minister Edi Rama and some of the ministers welcomed the mission and spoke on advantages of doing business in Albania. Albanian economic priorities for the time being are Tourism, Energy and Agriculture. The SEE LEGAL member firm, KALO & ASSOCIATES, that has very good track records in assisting Italian companies, attended…